A dark cloud is hanging over the Knicks in the form of Josh Hart and Karl-Anthony Towns’ contracts.
Neither of these core championship players have been locked up by the team as yet, with Towns’ situation becomingly increasingly concerning in particular.
Insider Shams Charania thinks it could cause issues if the team isn’t careful.
“There’s a growing cloud around the New York Knicks. Karl-Anthony Towns has made it clear to the Knicks that he is willing to take a considerable discount on his contract extension coming up, just like his teammates have: Mikal Bridges, OG Anunoby, as well as Jalen Brunson,” Charania says. “Right now, the Knicks want him to take a substantial pay cut, what he believes to be an extreme discount on his deal. Sources tell me the Knicks are offering Towns a 4-year, approximately $200 million contract extension. That’s $76 million less than his max. That’s under the backdrop of James Dolan, their owner, making it clear that this team will not be in the second apron moving forward.”
Charania added, “Karl Anthony Towns, though, has shown a willingness to negotiate a deal that would satisfy this team staying under the second apron. The Knicks have not moved off this threshold of about $200 million over the 4 years, and he has 1 year guaranteed left on his contract before the player option next summer that would make him a free agent. Josh Hart has already hinted that, as this gets closer to February, which is around the trade deadline, the temperature could rise if Karl-Anthony Towns and Hart himself are not extended. So far, these sides are not close.”